Geospatial Analytics Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, and Segmentation.

Geospatial Analytics Market was valued at US$ 69.05 Bn. in 2022. Global Geospatial Analytics Market size is estimated to grow at a CAGR of 11.01 %. The market is expected to reach a value of US $ 143.45 Bn in 2029.
Geospatial Analytics Market Overview and Dynamics:
Geospatial analytics is the process, that analysis of geological data obtained from graphs, maps, cartograms and statistics for the representation of objects or features on the surface of the Earth. Geospatial analytics involves the use of 3D scanners, GPS, geotagging, social media platforms, location sensors, mobile devices and satellite imaging solutions for surface analysis, geo-visualization and network analysis.

Over the last decade, the adoption of geographic-based information systems has increased disaster management applications, with forest fire management, flood management, carbon management, and climate change monitoring. Governments of the developed economies such as the USA, China, India and Brazil are extensively using this technology for disaster management.To know about the Research Methodology :- Request Free Sample Report

Development of Smart Cities Across the World-

Thanks to rapid technological advancements and urbanisation, government investments in smart cities around the world are positively impacting the global market growth of geospatial analytics. Smart cities are dependent and data-driven on sharing real-time awareness. Location-based examination of IoT data has been used by local government to improve safety, develop smarter parks, and drive innovation.

While emerging smart cities projects, GIS solutions are executed to create a generalized location-enabled platforms for usage cases analysis in environments of smart cities. These contain automated natural hazard monitor web GIS with climate monitoring, SMS warning, disaster management SDI and urban design. The GIS software for smart-city helps in planning, designing & visualization, site selection intelligent transportation systems, & land acquisition, construction & project management, and operations & reporting.

Rising the Investments of Various Government in Geospatial Analytics Technology-

Rising Investments and growing demand for GIS solutions in the transportation industry is boosting the geospatial analytics market growth. Governments are progressively investing in these technologies for applications in homeland security, also military & aerospace, which, in turn, strengthen its demand. In recent years, numerous vendors have come up with advanced products to suit the necessities of governments in developing economies. Moreover, in April 2022, the UN (United Nations) released its geospatial strategy for 2022-23, which goals to contribute to the data ecosystem by allowing location information for different segments.

Governments are strongly focusing on investing in data-based and digital solutions. For example, the Government of India (GoI) is expenditure heavily on digitizing many processes under the Digital India initiative. This, in turn, is projected to increase the penetration of the technology in upcoming years.

Technological Advancements:

Technological developments, like the integration of connected devices with and machine learning (ML) and artificial intelligence (AI)) solutions are acting as other growth-inducing factors. These technologies help in object detection, image classification, instance segmentation and semantic segmentation. Other factors, with significant improvements in the 5G infrastructure, along with the execution of favourable government policies, are expected to drive the geospatial analytics market toward growth.

Geospatial Analytics Market Segment Analysis: Global Geospatial Analytics Market is segmented into type, component, solution, services, technology, deployment mode, vertical and application.

Solution segment dominated the global market for geospatial analytics in 2022.

By component, the solution segment held the largest market share of nearly 67.89% in 2022. Solutions such as geocoding and reverse geocoding, data integration and ETL, reporting and visualization, thematic mapping and spatial analysis are helping organizations to analyse and implement important strategies for changing the business environment.

Among the solution, geocoding and reverse geocoding segment is expected to grow at the largest CAGR of 12.5% during 2023-2029 thanks to rising satellite programs and rapid urbanization.

The surveying segment is projected to grow at the highest CAGR of nearly 13.24% during 2023-2029.

Based on application, the surveying segment is projected to account for the largest share of the market in 2022. This growth is attributed to the high adoption of geospatial analytics technology for surveying applications across several industries, with oil & gas, forestry, security & defense, agriculture, transportation, and construction.Cloud segment is expected to hold the largest growth rate in the forecast period.

Based on the deployment model, the cloud segment is expected to hold the largest growth rate in the forecast period owing to benefits like easy subscription models, pay-as-per-use, high-end data security and web-based models. Cloud-based deployments provide analytical and visualization capabilities for several applications. Also, scalability, flexibility, and hassle-free upgrades are also likely to contribute to the rapid growth of the segment.
Geospatial Analytics Market Regional Analysis:
North America accounted for the largest market share in 2022, with a market value of US$ XX Bn; the regional market is expected to register a CAGR of 12% during 2023-2029. The presence of many technology companies in the USA and their growing use of AI and ML are boosting geospatial analytics market growth in North America. Some of the driving factors responsible for North America’s largest share in the market for geospatial analytics are the development of 5G infrastructure, growth of the oil & gas industry, the presence of major players from the automotive industry, the increasing demand for connected vehicles, and robust healthcare infrastructure in the USA.

However, the APAC market is expected to witness remarkable growth during 2023-2029. The large population and the above 1000 planned future projects, with smart cities and infrastructure in the APAC, are expected to fuel the market’s growth.
Geospatial Analytics Market Country-wide Analysis:
China: The government of China is investing in emerging a spaceborne-airborne observation system to improve the national, regional, and global capability in responding to emergencies, and to improve human security, health, and well-being. The initiative from the Chinese government is also fuelling the growth of geospatial analytics growth in China.

India: The developing trend of mobility as a service in the logistics industry is rising significantly in India. As per the study, it is expected that nearly 35% of every mile travelled in India will be covered by shared miles. This is one of the major opportunities for the new business models in the mobility businesses, with an ongoing huge transformation in terms of connectivity, electrification, and shared.

Leading market key players are working to demonstrate the opportunity to Geospatial Analytics Market Globally.

1. In Sept 2022, Bentley Systems Company announced that its Seequent business unit has acquired Canadian software company Minalytix, the developer of MX Deposit. The acquisition covers Seequent's cloud capabilities and solutions for mining, with resource development, mining production and greenfield exploration.

2. In Oct 2022, Esri Company released ArcGIS GeoBIM, a product that increases the ability of BIM project teams to advantage from GIS. The company offers an easy-to-use, web-based experience for acoustic echo cancellation teams to collaborate and explore using data from many systems, in a geospatial context.

The objective of the report is to present a comprehensive analysis of the Geospatial Analytics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Geospatial Analytics Market dynamic and structure by analyzing the market segments and projecting the Geospatial Analytics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Geospatial Analytics Market make the report investor’s guide.
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Global Geospatial Analytics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 69.05 Bn.


Forecast Period 2023 to 2029 CAGR:
11.01%
Market Size in 2029:
US$ 143.45 Bn.


 Segments Covered:
by Type
Surface and Field Analytics
Network and Location Analytics
Geovisualization
Other types


by Components
Solutions
Services


by Solution
Geocoding and Reverse Geocoding
Data Integration and ETL
Reporting and Visualization
Thematic Mapping and Spatial Analysis
Other solutions


by Service
Consulting
Integration and Deployment
Support and Maintenance


by Technology
Remote Sensing
GIS
GPS
Other technology


by Deployment Mode
Cloud
On-premises


by Organization Size
MEs
Large Enterprises


by Application
Surveying
Medicine and Public Safety
Disaster Risk Reduction and Management
Climate Change Adaptation
Other applications


by Vertical
Utility
Government
Defense and Intelligence
BFSI
Real Estate and Construction
Healthcare
Mining and Natural Resources
Security
Logistics and Supply Chain
Automotive
Agriculture
Others



Global Geospatial Analytics Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Global Geospatial Analytics Market Key Players
1. ESRI
2. Alteryx
3. Bentley Systems
4. CARTO
5. Descartes Labs
6. Fugro
7. GeneralElectric
8. Geospin
9. Google
10.Hexagon AB
11.Mapidea
12.MapLarge
13.Maxar Technologies
14.Oracle
15.Orbica
16.Orbital Insight
17.Precisely
18.RemOT Technologies
19.RMSI
20.SAP
21.Ubimo
22.Skymap Global
23.Sparkgeo
24.TomTom
25.Trimble

Frequently Asked Questions:

1] What segments are covered in the Geospatial Analytics Market report?
Ans. The segments covered in the Geospatial Analytics Market report are based on type, component, solution, services, technology, deployment mode, vertical and application.

2] Which region is expected to hold the highest share in the Geospatial Analytics Market?
Ans. North America region is expected to hold the highest share in the Geospatial Analytics Market.

3] What is the market size of the Geospatial Analytics Market by 2029?
Ans. The market size of the Geospatial Analytics Market by 2029 is US$ 143.45 Bn.

4] What is the forecast period for the Geospatial Analytics Market?
Ans. The forecast period for the Geospatial Analytics Market is 2023-2029.

5] What was the market size of the Geospatial Analytics Market in 2022?
Ans. The market size of the Geospatial Analytics Market in 2022 was US$ 69.05 Bn.